Lloyd’s provides insurance and reinsurance that supports and enables some of the world’s worst fossil fuel projects including coal mines, tar sands pipelines, and new oil & gas exploration. Their business plans are incompatible with keeping climate change under 1.5°C. In total, Lloyds insures 40% of the world’s energy. These practices are far from new. Lloyd’s has a long racist colonial past. Its wealth was built off a monopoly insuring the trans-Atlantic slave trade. Today, Lloyd’s continues to profit from underwriting projects that sacrifice Indigenous, Black, and brown communities on the frontlines of fossil fuel extraction and the climate crisis.
Our guide to Google review swarming Lloyd’s of London market members to mount public pressure on them to rule out the Adani coal mine.
As they reopened after lockdown, Lloyd’s of London and companies involved in their marketplace opened their offices to find local people demanding that they rule out insuring the West Cumbria and Adani coal mines immediately.
Firstly, it’s nothing at all to do with Lloyd’s PLC, the bank – they’re not great either, but that’s another story. Lloyd’s of London is a large insurance corporation with an HQ in London….
Major Lloyd’s of London insurer Brit is the latest firm to rule out insurance for Adani’s controversial Carmichael coal mine project.